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HomeEthiopian NewsEthiopia expects 6.6 percent economic growth this fiscal year 

Ethiopia expects 6.6 percent economic growth this fiscal year 

Ethiopia _ Economic growth
Members of the National Macro Economic Council during presentation of economic performance in the past nine months on May 10, 2020 ( Photo : ENA)

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Ethiopia’s Plan and Development Ministry on Tuesday said that it expects the country to see 6.6 percent economic growth. 

It was during the National Macro Economic Council of Ethiopia’s performance evaluation for the past nine months that the ministry disclosed the projected growth. 

The state television showed a video of Prime Minister Abiy Ahmed and the rest of the National Macro Economic Council members watching a PowerPoint presentation written in the English language. 

Ethiopia _ Economy _ growth
Plan and Development Minster, Fitsum Assefa, during her power point presentation ( Photo : ENA)

The Minister for Plan and Development, Fisum Assefa, highlighted that the economy was negatively impacted by the war in North Ethiopia, the Coronavirus pandemic, and the drought situation in some parts of the country. 

Also, the ministry claimed that the conflict between Russia and Ukraine, which started in February this year, “had an impact on the Ethiopian economy.” 

With the rise in the price of wheat, the prime minister vowed to export wheat as of next year and cooking oil increased by 65 percent in the months of February and April thereby contributing to worsening price inflation, according to the Ministry. 

On the other hand, it was indicated that Ethiopia earned over $2.9 million from export trade during the same period and another $4.5 billion from the service sector. 

In related news, the Ethiopian government is considering ending subsidising fuel oil in the local market – something that is speculated to be a disastrous consequence for consumers.  

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3 COMMENTS

  1. This is excellent news. Kudos to those patriotic and hard working policy makers and enlightened bureaucrats along with farmers, factory workers, manual laborers and those in the sales force for making this number a reality while successfully fighting off everything bigots and their hooligans have been throwing at them. What helped the whole effort is because our daughter/sister the over qualified H.E. Dr. Lia bint Tadesse has their backs by keeping factories and offices safe to work. Our other daughter H.E Firehiwot bint Tamiru has been running the telecom without a major snafu and today I heard she has the fastest system(5G) going in the capital. This is called working together hand and gloves for the good of the people. Everything seems coming to gel. But many among the Diaspora are still pre-occupied moaning and crying about ‘Oromumma’ this and ‘Fano’ that. This is really devastating news for these bigots who never get tired of spewing poison among those harmonious people. Those who achieved this encouraging numbers are Oromos, Amharas, Tigres, Afars, Somalis, Sidamas, Gambelas, Benishanguls and from every other group of people in that country. Hey bigots! I hope you choke every time you mumble bedeviling ‘Oromumma’ and ‘Fano’. I have nothing but utter contempt for you.

  2. Is that Negative 6.6%? Who really trusts the clown regime of Abiy Ahmed??????? By Abiy’s own account 2,500,000,000 birr that is $50,000,000 US was spent on renovation of Addis Ababa city hall. What did Addis Ababans get out of this MASSIVE EMBEZZLEMENT BY ADANECH ABEBE, SHIMELES ABDISSA, etc militant Oromumma Mafia, a City Hall Clock that tells time correctly only twice in 24 hours!!!!!!!!!

  3. Comment:that’s a good news and keep the good work pm abiy. but monthly salary stacked and the food and materials cost tripled despite all this u’r government told us not to worry. we gov’tal workers are on the verge of extinction and u laughed on us. is that the country u want to build or u have another country? of course u have country to live which is called oromia that’s why u collect u’r warmongering little children of oromia to make the people of ethiopia suffer.

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